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ETH · 1w

Ethereum Blockchain Solutions for Enterprise Business: Pros and Cons

Ethereum currently is known as the most popular public blockchain network for the development of decentralized applications (DApps) and smart contracts. Its prospective blockchain protocol is one of the few cryptocurrency projects actually achieving real-world adoption, with dozens of applications that can be divided into 11 major categories: open finance, decentralized exchanges, gaming, collectibles, marketplaces, developer tools, identity, governance, infrastructure, token-curated registries and Ethereum Request for Comments (ERC) token standards. Thus, it appears to be leading the field of enterprise blockchain solutions.

Ethereum is contributing to the revolutionizing of the internet with the creation of the Decentralized Web — or Web3 — that facilitates peer-to-peer (P2P) transactions (i.e., without a middleman). It means that Ethereum’s blockchain technology is gradually changing the internet’s P2P economy through a means of control over the technologies and applications that we use extensively.

There are three primary ways Ethereum is doing this: The first is by making money (cryptocurrency) a native feature of the internet; the second is by decentralizing applications to offer users new capabilities, for example, user-driven contribution to Open Government Data; and third is by giving users control over their data and digital identities. 

Real-world Ethereum adoption

Out of the 2,000+ cryptocurrencies out there, Ethereum has demonstrated how a blockchain technology can achieve real-world adoption with both individuals and enterprise businesses. 

Since Ethereum’s inception in 2015, there have been over 2,500 DApps built on the Ethereum blockchain.

At the forefront of Ethereum enterprise adoption is the Enterprise Ethereum Alliance, a blockchain consortium with over 450 enterprise business members, including Microsoft, JPMorgan Chase, Santander, Accenture, ING, Intel, Cisco and others.

Enterprises implementing Eth...
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